08 December 2022
McLaren has sold some of its 54 rare Formula 1 and F1 Supercars; according to its 2021 annual report, ‘the company sells cars from its collection from time to time.
McLaren has recently sold 54 of its prized heritage car collection to Bahrain’s sovereign wealth fund Mumtalakat Holding to raise Capital to upgrade its Artura supercar. Mumtalakat is already a major shareholder with close to a 60% stake-holding ad has agreed to support the company with an additional £100 million.
McLaren reported a loss of £203 million in the nine months through September, compared with a £69 million loss a year ago.
McLaren has said, ‘We are in active talks with all shareholders regarding a recapitalisation of the group.’
Does this mean the additional funding will not be sufficient?
Recently, McLaren Racing and Gulf Oil have confirmed they will not renew their partnership beyond the end of the 2022 season.
These are reasonably gloomy reports. However, let’s not forget McLaren was responsible for the McLaren F1, one of the best Supercars the world has ever known, produced between 1992 and 1998.
Although it took McLaren almost ten years to launch their next Supercar, the MP12-4C, since then, their progress has been nothing short of epic, with an exceptional range of high-performance motor cars, now able to compete with the likes of Ferrari and Lamborghini.
‘McLaren exists to win, and this philosophy has driven the company to its current position as one of the world’s most illustrious high-technology brands.’
Long Live McLaren